The Cigna Group
CI
ISIN US1255231003 / Valor 45558121
The Cigna Group
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About company
The Cigna Group operates as a global health service company through its various subsidiaries, including Cigna Health and Life Insurance Company, Cigna Health Management, Inc., and Evernorth Health, Inc., among others. These subsidiaries offer a wide range of health care-related services, such as health insurance, behavioral health services, care solutions, and dental health services. The company is committed to improving the health and well-being of its clients by focusing on quality and affordability in health care. This commitment is evidenced by its receipt of accreditation and certification from The National Committee for Quality Assurance (NCQA) and URAC, which are organizations dedicated to improving health care quality. These accreditations recognize Cigna Healthcare and Evernorth's efforts in managing health care delivery effectively, ensuring high standards of quality, and promoting continuous improvement in business processes. The company's approach integrates various aspects of health care services to provide comprehensive solutions aimed at enhancing patient care and outcomes.
Summarized from source with an LLMView SourceSector: FinanceLatest Results (17.12.2024):
Total Revenue Growth
The Cigna Group reported a significant increase in total revenues for the third quarter of 2024, reaching $63.7 billion. This marks a 30% growth compared to the same period in 2023, primarily driven by substantial growth in Evernorth Health Services, which benefited from large client wins and strong specialty volume growth.
Shareholders' Net Income
For the third quarter of 2024, The Cigna Group's shareholders' net income was $0.7 billion, or $2.63 per share. This figure includes a non-cash after-tax investment loss of $1.0 billion related to VillageMD, which impacted the earnings per share by $3.69. In comparison, the net income for the third quarter of 2023 was $1.4 billion, or $4.74 per share.
Adjusted Income from Operations
The Cigna Group's adjusted income from operations for the third quarter of 2024 was $2.1 billion, or $7.51 per share. This represents a 5% increase from the third quarter of 2023, which was $2.0 billion, or $6.77 per share. The growth was supported by strong contributions from Evernorth Health Services, particularly within Specialty and Care Services.
Segment Performance: Evernorth Health Services
Evernorth Health Services reported a 36% increase in adjusted revenues and a 9% increase in adjusted income from operations, pre-tax, for the third quarter of 2024 compared to the same period in 2023. The Pharmacy Benefit Services segment saw a 50% increase in adjusted revenues, while Specialty and Care Services experienced a 23% increase, driven by client wins and strong specialty volume growth.
2024 Outlook Reaffirmed
The Cigna Group has reaffirmed its 2024 outlook for adjusted income from operations, projecting at least $28.40 per share. This outlook reflects the company's confidence in its strategic execution and continued growth across its business segments, despite the dynamic market environment.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
78322 M
Market cap (USD)
328,218
Daily traded volume (Shares)
281.87 / 278.45
1 day high/low (USD)
52 weeks high/low (USD)
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